Montreal, QC - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, today announced that it has signed a contract valued in excess of CA$7 million with the Korea Aerospace Research Institute (KARI), a national aerospace research institution. MDA will provide a communication subsystem to support the Korean Lunar Exploration Program, a project to develop the first lunar probe in Korea and secure the necessary technology for lunar exploration, such as an orbiter, a landing module, science payload, and deep space communication. MDA’s communication subsystem will provide relay information between the Lunar Orbiter and the ground station on Earth.
MDA’s antenna solutions cover a wide range of requirements to address single and multi-satellite programs in commercial, space, military and airborne markets. Combining leading edge technical capability with timely, cost effective execution and extensive heritage, MDA’s communication solutions provide a unique value proposition to customers worldwide.
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide. MDA’s business is focused on markets and customers with strong repeat business potential, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development. MDA’s established global customer base is served by more than 4,800 employees operating from 15 locations in the United States, Canada, and internationally. The Company’s common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA. For more information, visit www.mdacorporation.com
About SSL MDA Holdings
SSL MDA Holdings is a wholly owned subsidiary of MacDonald, Dettwiler and Associates Ltd. (MDA) and serves as the operating company for all MDA businesses. SSL MDA Holdings is headquartered in San Francisco, California.
About Korea Aerospace Research Institute
Korea Aerospace Research Institute (KARI) is a government funded research institute, engaged in development of the national economy and enhancement of national life through a new exploration and technological advancements, development, and dissemination in the field of aerospace science and technology. www.kari.re.kr
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of a contract. Any such forward-looking statements are based on MDA’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include contracts not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include, but are not limited to: risks associated with operating a satellite including in-orbit failures or impaired satellite performance; quality issues, failure of systems to meet performance requirements, potential for product liability, or the occurrence of defects in products or systems could result in lost revenue and harm to the Company’s reputation; failure of third parties and subcontractors; and failure to anticipate changes in technology, technical standards and offerings or compliance with the requisite standards, or failure to maintain technological advances and offer new products to retain customers and market position.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online under the Company's profile at www.sedar.com or on the Company's website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.